Q3FY19 Results: RIL posts net profit of Rs. 10,000 crore
Reliance Industries posted solid Q3FY19 show and became the first Indian private firm to cross Rs. 10,000 crore quarterly profit mark, on account of strong performance by petrochemicals, retail and digital services business.
Consolidated revenue from operations for Q3FY19 stood at Rs. 1,60,299 crore as against Rs. 1,02,500 crore in the same period last year, registering an annual rise of 56.38 per cent. While consolidated net profit stood was at Rs. 10,251 crore as against Rs. 9,420 crore in the same quarter last year, a growth of 8.8 per cent on a YoY.
Talking about its results on a segment-wise basis, its telecom arm Reliance Jio crossed Rs. 10,000 crore in quarterly operating revenue within the second year of operations. ARPU (average revenue per user) during the quarter came in at Rs. 130 per subscriber per month. During Q3FY19, revenue in oil and gas segment decreased by 27 per cent YoY to Rs. 1,182 crore. Further, gross refining margin (GRM) for the third quarter of current fiscal stood at US$8.8 per barrel against US$11.6 per barrel that it reported for a year ago during the same time frame.
On Friday, January 18, the stock opened with gains due to this strong performance and touched intraday high of Rs. 1,156.55 on BSE. At 2.05 pm, the stock showed gains of 3.26 per cent to trade at Rs. 1,170.70 while BSE Sensex traded at 36,380, flat gains of 6 points.